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| Vice President of the United Republic of Tanzania, Hon. Dr. Philip Mpango, hands over an award to NMB Bank’s Head of Bancassurance, Martine Massawe in recognition of the Bank’s contribution towards the success of the Road safety week exhibition and 50 years commemoration of the National Road Safety Council as the main sponsor. On the left is the Minister of Internal Affairs, Hon. Eng. Hamad Masauni. |
Dodoma: Vice President of the United Republic of Tanzania, Hon. Dr. Philip Mpango has urged NMB Bank to extend its reach to a larger audience to provide education on insurance, particularly targeting operators and users of motor vehicles.
Dr. Mpango gave this directive on the August 26, 2024, during his visit to the NMB exhibition booth as part of the 50th anniversary celebrations of the National Road Safety Council, culminating at the Jamhuri Stadium in Dodoma.
In collaboration with Sanlam and Reliance Insurance Company Tanzania Ltd, NMB Bank served as the main sponsor for the celebrations, marking the third consecutive year of their sponsorship.
"Many people don't see the value of insurance. If nothing happens in the first to fourth year, they tend to drop it. NMB, you can effectively handle this task. I urge you to take it on because the protection of a motor vehicle lies in insurance, and nothing else," said Dr. Mpango.
He pointed out that some perceive that insurance primarily benefits banks and companies, which is not true. He urged for more educational initiatives, particularly targeting motorcycle operators known as Bodaboda, declaring NMB the appropriate partner for this effort.
NMB Bank’s Head of Bancassurance, Martin Massawe, explained that the bank offers a system enabling motor vehicle users to purchase insurance at affordable rates.
Massawe mentioned that the bank offers insurance starting at as little as TZS 200 per month, with motor vehicle users encouraged to take up policies from TZS 10,000—a feasible amount for this group.
According to Massawe, NMB has engaged in discussions with driver associations in the country, with positive outcomes as many have already enrolled in vehicle and life insurance policies. He affirmed the bank's commitment to intensifying its education efforts.
Speaking on behalf of other sponsors, Massawe highlighted the priority given to Road Safety Week, which underscores their continued sponsorship for three years.
Massawe invited Tanzanians and Dodoma residents to visit NMB branches nationwide to explore various opportunities, including loans for motor vehicles and businesses, under favorable terms tailored for the citizens’ needs.
He pointed out that some perceive that insurance primarily benefits banks and companies, which is not true. He urged for more educational initiatives, particularly targeting motorcycle operators known as Bodaboda, declaring NMB the appropriate partner for this effort.
NMB Bank’s Head of Bancassurance, Martin Massawe, explained that the bank offers a system enabling motor vehicle users to purchase insurance at affordable rates.
Massawe mentioned that the bank offers insurance starting at as little as TZS 200 per month, with motor vehicle users encouraged to take up policies from TZS 10,000—a feasible amount for this group.
According to Massawe, NMB has engaged in discussions with driver associations in the country, with positive outcomes as many have already enrolled in vehicle and life insurance policies. He affirmed the bank's commitment to intensifying its education efforts.
Speaking on behalf of other sponsors, Massawe highlighted the priority given to Road Safety Week, which underscores their continued sponsorship for three years.
Massawe invited Tanzanians and Dodoma residents to visit NMB branches nationwide to explore various opportunities, including loans for motor vehicles and businesses, under favorable terms tailored for the citizens’ needs.
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